J. Toole & Son Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 01005654 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 June 2018

for

J. Toole & Son Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

J Toole

Mrs P Toole

SECRETARY:

Mrs P Toole

REGISTERED OFFICE:

Suite 1 Armcon Business Park

London Road South

Poynton

Stockport

Cheshire

SK12 1LQ

REGISTERED NUMBER:

01005654 (England and Wales)

ACCOUNTANTS:

Nolan James Limited

Chartered Accountants

Suite 1

Armcon Business Park

London Road South

Poynton

Cheshire

SK12 1LQ

FIXED ASSETS

Tangible assets

4

13,978

14,712

CURRENT ASSETS

Stocks

46,744

39,138

Debtors

5

11,598

18,438

Cash at bank and in hand

8,148

14,011

66,490

71,587

CREDITORS

Amounts falling due within one year

6

28,159

9,711

NET CURRENT ASSETS

38,331

61,876

TOTAL ASSETS LESS CURRENT LIABILITIES

52,309

76,588

CAPITAL AND RESERVES

Called up share capital

100

100

Capital redemption reserve

25,489

25,489

Retained earnings

26,720

50,999

SHAREHOLDERS' FUNDS

52,309

76,588

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors on 28 March 2019 and were signed on its behalf by:

J Toole - Director

1.	STATUTORY INFORMATION

J. Toole & Son Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Land and buildings

-

2% on cost

Plant and machinery etc

-

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to

the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or

substantively enacted by the balance sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2017 - 4 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 July 2017

and 30 June 2018

19,000

42,605

61,605

DEPRECIATION

At 1 July 2017

5,700

41,193

46,893

Charge for year

380

354

734

At 30 June 2018

6,080

41,547

47,627

NET BOOK VALUE

At 30 June 2018

12,920

1,058

13,978

At 30 June 2017

13,300

1,412

14,712

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

11,400

18,240

Other debtors

198

198

11,598

18,438

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

886

1,022

Taxation and social security

4,594

6,729

Other creditors

22,679

1,960

28,159

9,711